Argentina: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Argentina

November 10, 2016

Preview Citation

Format: Chicago

Argentina: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Argentina, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

An inherited legacy of imbalances. Upon taking office in December last year, Argentina’s new government faced pervasive macroeconomic imbalances, microeconomic distortions, and a weakened institutional framework. These encompassed unsustainably high consumption levels, historically low levels of investment, and large fiscal deficits financed by money creation, which led to high inflation. Distortions at the micro level included an extensive network of administrative controls (for example, trade barriers, foreign exchange restrictions, and price controls) and a business environment that eroded competitiveness and undermined medium-term growth. There was also an important weakening of the institutional framework for economic policymaking, perhaps most evident in the loss of credibility of the national statistics agency.

Subject: Currencies, Expenditure, Inflation, Pension spending, Prices, Public debt, Tariffs, Taxes

Keywords: CR, Deficit, FX inflow, GDP, Global, Government, Growth projection, IFC portfolio, Inflation, ISCR, Pension spending, Peso bond, Tariffs, Utilities tariff rollback

Publication Details

Pages:

93
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/346
Stock No:

1ARGEA2016007
ISBN:

9781475552621
ISSN:

1934-7685

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